GoGold Resources (TSE:GGD) Trading Up 23.6% – Here’s Why

GoGold Resources Inc. (TSE:GGD) shares traded up 23.6% on Monday . The stock traded as high as C$2.96 and last traded at C$2.93. 2,814,400 shares traded hands during trading, an increase of 231% from the average session volume of 849,720 shares. The stock had previously closed at C$2.37.

GoGold Resources Price Performance

The stock has a market capitalization of C$1.08 billion, a price-to-earnings ratio of 81.71 and a beta of 1.21. The stock’s 50 day simple moving average is C$2.62 and its 200-day simple moving average is C$2.27.

Insider Activity

In related news, insider Glenn Jessome sold 55,000 shares of the company’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of C$2.60, for a total value of C$143,000.00. Following the completion of the sale, the insider directly owned 773,105 shares in the company, valued at approximately C$2,010,073. This represents a 6.64% decrease in their ownership of the stock. Over the last three months, insiders have sold 748,000 shares of company stock valued at $1,974,414. 6.41% of the stock is currently owned by insiders.

About GoGold Resources

GoGold Resources Inc is a Canadian-based company engaged in the business of exploration, development, and production of gold and silver. It operates in two segments: Mexico, which accounts for the majority of revenue; and Canada. Its Mexico segment consists of the Parral project and the Los Ricos project.